Research is a Must When Buying Bank Owned Houses
Real Estate News From CoStar Group
Before signing the contract to purchase bank owned houses make sure you have the basics covered. Bank owned houses came under the bank's ownership after an unsuccessful auction. These properties are sold at auctions after their former owners fail to meet their loan obligations.
Source: Real-Estate:Foreclosures Articles from EzineArticles.com
IF you are thinking of buying a bank owned home you should make sure that you are able to see the home before any papers or letters of intent are signed. Make sure you have a qualified home inspector check it out too. Do not rely on the home inspector that is being paid by the bank.